Qatar Petroleum and ExxonMobil have signed a commercial
framework agreement for the proposed liquefaction project at the world-class Golden
Pass LNG terminal facility in Sabine Pass, Texas, the companies
said on Friday.
The deal establishes a commercial framework to sell up to
the full 15.6 million tpy output of the Golden Pass
liquefaction project, and provide shipping and
sales opportunities to existing and new markets, including
leveraging the sponsors long-term arrangements for
international imports via the UK's South Hook facility.
Golden Pass shareholders and their joint ventures are world
leaders in the LNG
business with operational LNG
expertise, financial capabilities, access to shipping fleets,
large-scale regasification facilities and a diverse global
customer portfolio, according to project officials.
This agreement sets out a highly competitive
commercial blueprint for Golden Pass Products, with a
commitment that builds on the unique combined strengths of QP
and ExxonMobil throughout the global downstream LNG
value chain, said Bill Collins, president of Golden Pass
Golden Pass Products would invest approximately $10 billion
to build the liquefaction facility in Sabine Pass, Texas, and
would create about 45,000 direct and indirect jobs across the
US during the construction phase.
Golden Pass Products has received US Department of Energy
(DOE) authorization for exports to free-trade agreement (FTA)
countries, and is awaiting DOE approval to export to non-FTA
In addition, Golden Pass Products is advancing preparations for
the Federal Energy Regulatory Commission (FERC) permitting
process and said it anticipates pre-filing soon.